Turtle Beach Corporation (NASDAQ:TBCH) Given Average Recommendation of “Hold” by Brokerages

Turtle Beach Corporation (NASDAQ:TBCH) has earned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $16.80.

A number of analysts recently issued reports on the stock. Oppenheimer reissued an “outperform” rating and set a $18.00 target price (down from $20.00) on shares of Turtle Beach in a research report on Friday, March 13th. Wedbush reduced their price target on shares of Turtle Beach from $14.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, March 16th. B. Riley Financial decreased their price objective on shares of Turtle Beach from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Weiss Ratings lowered shares of Turtle Beach from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Finally, Craig Hallum reissued a “buy” rating and issued a $15.00 target price on shares of Turtle Beach in a research note on Friday, May 8th.

Insiders Place Their Bets

In related news, Director Katherine Lee Scherping sold 2,000 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $13.25, for a total transaction of $26,500.00. Following the completion of the sale, the director directly owned 22,254 shares of the company’s stock, valued at approximately $294,865.50. This represents a 8.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Turtle Beach

Several institutional investors and hedge funds have recently modified their holdings of TBCH. Dimensional Fund Advisors LP grew its stake in shares of Turtle Beach by 26.1% in the first quarter. Dimensional Fund Advisors LP now owns 437,882 shares of the company’s stock valued at $4,440,000 after buying an additional 90,677 shares in the last quarter. North Star Investment Management Corp. lifted its position in Turtle Beach by 20.4% during the 1st quarter. North Star Investment Management Corp. now owns 207,144 shares of the company’s stock worth $2,100,000 after acquiring an additional 35,144 shares in the last quarter. Pullen Investment Management LLC lifted its position in Turtle Beach by 10.8% during the 1st quarter. Pullen Investment Management LLC now owns 158,866 shares of the company’s stock worth $1,611,000 after acquiring an additional 15,529 shares in the last quarter. Invesco Ltd. boosted its holdings in Turtle Beach by 9.9% in the 4th quarter. Invesco Ltd. now owns 46,088 shares of the company’s stock worth $647,000 after acquiring an additional 4,170 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Turtle Beach in the 4th quarter worth approximately $149,000. Hedge funds and other institutional investors own 67.01% of the company’s stock.

Turtle Beach Price Performance

TBCH stock opened at $12.55 on Friday. The company has a market cap of $249.12 million, a PE ratio of 418.33 and a beta of 2.28. The company has a current ratio of 2.46, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $12.28 and a two-hundred day moving average price of $12.35. Turtle Beach has a 12-month low of $9.84 and a 12-month high of $17.39.

Turtle Beach (NASDAQ:TBCH) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.35). The firm had revenue of $42.17 million during the quarter. Turtle Beach had a return on equity of 1.31% and a net margin of 0.40%. As a group, research analysts predict that Turtle Beach will post 0.87 EPS for the current year.

About Turtle Beach

Turtle Beach Corporation (NASDAQ:TBCH) is a global developer, manufacturer and distributor of gaming audio peripherals, specializing in headsets, microphones and audio accessories for PC, console and mobile platforms. The company’s product lineup spans wired and wireless gaming headsets, mixing stations, sound cards and accessories designed to enhance the immersive experience for casual and professional gamers alike.

Founded in 1975 and headquartered in San Diego, California, Turtle Beach has built a longstanding reputation in audio innovation.